19 April 2015
Car used for personal and business purpose
say 1/4th is personal purpose
Then we take depreciation we only writeoff 3/4th nd not subtract 1/4 th part
So the whole cost of car can be claimed for depreciation but in more no. Of years
Y such ?
19 April 2015
No this is not like so. . Deduct full depreciation amount from the asset account and debit the capital account with 1/4th part of depreciation . .
CAclubindia
